Kodak 2013 Annual Report Download - page 128
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Table of Contents
NOTE 23: SHAREHOLDERS’ EQUITY
In connection with the Company’s reorganization and emergence from bankruptcy, all shares of the Predecessor Company’s common stock
were canceled. The Successor Company has 560 million shares of authorized stock, consisting of: (i) 500 million shares of common stock, par
value $0.01 per share and (ii) 60 million shares of preferred stock, no par value, issuable in one or more series. As of December 31, 2013 there
are 41.6 million shares of common stock and no shares of preferred stock issued and outstanding.
On the Effective Date, the Company issued, to the holders of general unsecured claims and the retiree settlement unsecured claim, net-share
settled warrants to purchase: (i) 2.1 million shares of common stock at an exercise price of $14.93 and (ii) 2.1 million shares of common stock
at an exercise price of $16.12. The warrants are classified as equity instruments and reported within Additional paid in capital in the
Consolidated Statement of Financial Position at their fair value as of the Effective Date ($24 million). As of December 31, 2013, there were
warrants outstanding to purchase 4 million shares of common stock.
During the four months ending December 31, 2013 the Company repurchased 0.2 million shares of common stock for approximately $3
million to satisfy tax withholding obligations in connection with the issuance of stock to employees under the Plan.
PAGE 121